HomeMy WebLinkAbout01-15-09PETITION FOR PROBATE AND GRANT OF LETTERS
REGISTER OF WILLS OF Cumberland COUNTY, PENNSYLVANIA
Estate of Eleanor D McKendry File Number _ O'~I - ~ ~ l.~ C7
also known as
,Deceased Social Security Number 199-14-5320
Petitioner(s), who is/are 18 yeazs of age or older, apply(ies) for:
(COMPLETE 'A' or 'B' BELOW.)
/® A. Probate and Grant of Letters Testamentary and aver that Petitioner(s) is /are the Personal Representative named in the
last Will of the Decedent dated October 28, 1999 and codicil(s) dated
(S'tate relevant circumstances, e.g., renunciation, death of executor, etc.)
Except as follows, Decerent did not marry, was not divorced, and did not have a child born or adopted after execution of the instrument(s) offered
for probate, was not the victim of a killing and was never adjudicated an incapacitated person: Husband George W. McKendry DOD 1/11/2003
B. Grant of Letters of Administration
(If applicable, enter: c. t. a.; d. b. n. c. t. a.; pendente liter durance absentia; durance minoritate)
Petitioner(s) after a proper search has /have ascertained that Decedent left no Will and was survived by tha; following spouse (if any) and heirs: (If
Administration, c. t. a. or d. b. n.c.t.a., enter date of Will in Section A above and complete list of heirs.)
Name Relationshi Residence
(COMPLETE INALL CASES:) Attach additional sheets if necessary.
Decedent was domiciled at death in Cumberland County, Pennsylvania with his /her last principal residence at
5225 Wilson Road, Aat. 312, Mechanicsbure PA 17055
(List street address, town/city, township, county, state, zip code)
Decedent, then years of age, died on December 20, 2008 at Mechanicsburg, PA
Decedent at death owned property with estimated values as follows:
(!f domiciled ir. PA) A!] persana! property S 430.000.00
(If not domiciled in PA) Personal property in Pennsylvania $
(If not domiciled in PA) Personal property in County $
Value of real estate in Pennsylvania $
situated as follows:
Wherefore, Petitioner(s) respectfully request(s) the probate of the last Will and Codicil(s) presented with this Petition and the grant of Letters in the appropriate form to
the undersigned:
or printed name and residence
Carolyn J. McKendry, 452 Sunset Drive, Maple Shade, NJ 08052
Form RW-02 rev. 10.13.06
RECORDED OFFICE OF
REGISTER OF WILLS
2009 JA1VjJARY 15
CLERK OF
ORPH~~NS' COtiRT
CL''~1BERI.:~"_vD CO., P:~
Page 1 of 2
Oath of Personal Representative
COMMONWEALTH OF PENNSYLVANIA
SS
COUNTY OF Cumberland ,
The Petitioner(s) above-named swear(s) or affirm(s) that the statements in the foregoing Petition are true and correct to the best of
the knowledge and belief of Petitioner(s) and that, as personal representative(s) of the Decedent:, Petitioner(s) will well and truly
administer the estate according to law.
Sworn to or affirmed and subscribed
before me the 9th day of
January 2009
For the Register
CHRISTINE L4MF3
SR. PROBATE CLERK
Signatttre of Personal Representative
Signahtre of Personal Representative
File Number: ~ (` t;~ ~ ~l.tlJ1U
Estate of Eleanor D McKendry ,Deceased
Social Security Number: 199-14-5320 Date of Death: December 22, 2008
AND NOW, ~ ~~ I , ~ ~ , in consideration of the foregoing Petition, satisfactory proof
having been presented before e, I I ECREED t t Letters Testamentary
are hereby granted to Carolyn J. nn~uP^~n~
in the above estate
and that the instrument(s) dated October 28, 1999
described in the Petition be admitted to probate and filed of
FEES
Letters ............ ... $ 410.00
Short Certificate(s) ... ..... $ 20.00
Renunciation(s) ..... ..... $
Commission Out of State . , . $ 20.00
Last Will and Testament $ 15.00
JCP $ 10.00
Automation $ 5.00
... $
... $
... $
... $
... $
TOTAL ......... ..... $ 480.00
Farm RW-02 rev. 10.13.06
as the last Will (and Codicil(s)) of
Register of i%Vills ' ,
Attorney Signature: ~;'.//~
Attorney Name: Jarrf s Hatz,'ll
Supreme Court I.D. No.: ~ 1132
Address: Bernetich, Hatzell & Pascu, LLC
2 Kings Hwy West, Suite 101
Haddonfield, NJ 08033
Telephone: 856-795-35:f 5
RF,COKDED OFFICE OF
g,F,GIS"TER OF ~iC,`ILLS
2009 J~1UAF`Y 15 Page 2 of 2
CLERK O'r
ORPH~~NS' COURT
CL"~IBERL-~1vD CO., PA
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LOCAL REGISTRAR'S CERTIFICATION OF DEATH
WARNING: It is illegal to duplicate this copy by photostat or photograph.
Fee for This certifiratc. `~(T.i10 ,rr%~~H ~~ This is to certify that the InfLxm fti~Tn hl r yi•,~en is
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Rtos-143 REV n zda COMMONWEALTH OF PENNSYLVANIA • DEPARTMENT OF HEALTH • VITAL RECORDS (~ 1
TYPE i PR1NT IN
PERMANENT CERTIFICATE OF DEATH
BLACK INK
(See instructions and examples on reverse) ~,,,,< <„ ~ ,,,,,,o~„
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1 Name d Decetlem IFim, mWdle last. suK) 2. Sex 3. Serial Security Number 1. Date of DeaN (Mmm, day. year)
or D. McKendr Female 199 - 14 -5320 December 20, 2008
5 Age (Last Birthday) lNtdar t year Under 1 day 6 Data d BiM (MOnm, day, year) 7. & (City and stale a Yx ' country) M. Place o1 Death (Check only amj
Menms days Hw,s Minces ybspilal: txner.
1926 ilkes-Barre, Pennsylvania
82 Yr5 Februa~a 20
,
• l ~Inpaeenl ^ Efl! Oulpal~ed ^ DOA ^ Nursing FWme ^ Resbence ^Olner ~ Spec,ly.
M County of Death &. CM, Bwo, Twp d Death 6d Facitiry Name jd not awdWdon, glue street and mrmbar) 9. Was Decedent d Wspanie Oriryn? ~NO ^Yes 10. Race. American Indan. BWck, Wnne. ek
Cumberland East Pennsboro pl yes, spedry Cuban, (Spec,M
Holy Spirit Hospital Maxman,PuanofMcan.era) White
it. Decedents Usual Occ t'qn K,nd d work tlorre duM mo;l d Warkin lib. W rql stale retired 12. Was DecatleM ever in d,B 13. Decedents Eduwtbn (SpeWry only nigMSl grade comlYeted) 11. Marital Stalub: Manned Never Man~e4 15 Survmng Spouse 111 wile, grve maitlan name)
KIM d Wak KIM d Business I InMnlry U. S. Armed Forces? Elemedary! Secanfary (D-12) CWlage (1 4 or 6~) W~~' Dwotced (svac~bl
g ^Yes No q Widowed
16 Decedent s MaOeg Abaess (Street. city /lawn, stale iip ceder) DBCeded'S Did Decedent
Lower Allen
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5225 Wilson Lane Actual RaS~denoe 17a. Slab PA Lieeba
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,E5 Dade"`,~edm Twp
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nd. ^ rb. Decedem Lmed wean
170 Ge°nry Cumberland
A 17055 ,,~1u8,,;~d city, eom
Ifi Father's Name (Fill. made Wsl, sudix) 16. MaherT Noma ¢ust mtdUle, maben 5umama)
Thomas Dennis Gertrude Wendel
20d Inlormam s Name (Type ! Pndl 2Db. Idomtar,fs Maiag Atldess (Street, city I sown, state, +V code)
Dennis McKend 259 Acorn Court Mechanicsburg, PA 17055
21 a Method of Disposition ~ ^ Cremation ^ Donation 21D. Data d DisposYbn (Month. day, year) 21c. Placer of psposilktn (Name of cemetery, uematay a o1Mr place) ltd. Location ICiry i town, stale, <ip code)
,~ Banal ^ Removal Irom Slate ~ Wac Cremation or Donation Aumoruetl
^ olne, sp,~y eywalwExamYxelc«onan ^Ya5^N„
December 26, 2008
Whitemarsh Memorial Park Amb 1 e r P A 1 9 0 0 2
~ 22a. Sgrwww A FuneM Se see (a rsan actug as suchj 22b. License Number 22c. Name and Atldress d FaciNty
' ~ ( ": ~ `,t". - 12662-L Myers Funeral Home, Inc. 37 East Main Street Mechanicsburg, PA 17055
Complete Mans 23ac ody when cedrytng TO the best my knowledge, deem occurred al Ne Yme, date ant place Slated. (S,gnabre and Wb) 23D. license Number 23c. Date $iyried IMOnb, day, year)
pAysinan ,5 nd avaeaWe at Lme W Oeam to
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uems 2i3fi mall M completed M person 21. Tune of Death 25. Data Pratounce0 Dead (Mouth, day, year) 26. Was Caze Balanced b Medal Exem,ner ! Cwcner br a Reason Omer than Cremation a Donalpn7
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LAST WILL AND TESTAMENT ` ~ =` ~ ~ ~-
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OF _:,,.,
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ELEANOR D. MCKENDRY --' '~~'
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I, ELEANOR D. MCKENDRY, now of 107 Jefferson Avenue, Stratford, New
Jersey 08084, declare this to be my Last Will and Testament and hereby revoke any and all other
Wills and Codicils previously made by me.
ARTICLE I
PAYMENT OF EXPENSES AND DEBTS
I direct my Personal Representative to pay my funeral expenses, the expenses of my
last illness, my administrative expenses, and all of my just debts, except for the payment of any
debt secured by a mortgage or similar encumbrance on real property owned by me at my death.
ARTICLE II
SPECIFIC BEQUESTS
(A) Personal Effects. I give all clothing, jewelry, household goods, personal effects,
automobiles, and all other tangible personal property (not including cash on hand or on deposit)
owned by me at the time of my death as follows:
(1) I may dispose of certain items of my tangible personal property by a
Kulzer & DiPadova
.4 Professional Corporation
76 Euclid Avenue
Haddonfield. Nl OR033
separate written statement prepared pursuant to New Jersey law. I direct that my Personal
Representative honor the dispositions set forth in any such statement. I give the remainder of my
tangible personal property, or, if I have not prepared a separate v/ritten statement then I give all
of my tangible personal property as described below.
(2) If my husband, GEORGE W. MCKENDRY, survives me, then I give
~ him all of my tangible personal property.
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(3) If my husband, GEORGE W. MCKENDRY, does not survive me, then I
give all of my tangible personal property to my children, DENNIS G. MCKENDRY and
CAROLYN J. MCKENDRY to be divided between them as they may agree, of if they fail to
agree then in equal shares.
(4) I direct that any expenses incurred in safeguarding and delivering such
property to be paid from my estate as administration expenses thereof.
(B) Life Insurance. If I predecease my husband, GE',ORGE W. MCKENDRY, and
at the time of my death I am the owner of any life insurance policy or policies on his life, then I
give and bequeath to my said husband all of my rights in and to any such life insurance policies.
However, if my said husband should disclaim any said policy, then I give such policy to my
'' children, in equal shares as tenants in common.
ARTICLE III
RESIDUE
I give all the residue of my estate, real and personal, to my Trustee, to hold and distribute,
along with any other assets which maybe added hereto, as follows:
(A) If my husband, GEORGE W. MCKENDRY, survives me:
(1) Marital Gift. If my husband, GEORGE W. MCKENDRY, survives me,
Kinzer & DiPadova
A Professional Corporation
76 Euclid Avenue
Haddonfield, NJ 08033
then my Trustee shall set aside an amount, (hereinafter called the "Marital Gift" as def"fined
below). Said Marital Gift shall be distributed outright and free of trust to my husband,
I GEORGE W. MCKENDRY.
(2) Notwithstanding the above provisions, if' my husband, GEORGE W.
~ MCKENDRY, so chooses, then any asset which may be allocable to or otherwise distributable
under this Marital Gift may be disclaimed, and such asset or assets shall not pass to or under the
2
terms of the Marital Gift, but instead shall pass to and be distributed under the terms of the
Disclaimer Trust below.
(3) The balance of the residue of my estate shall be held in a separate trust
(hereinafter referred to as the 'By-Pass Trust") and distributed for the benefit of my husband,
GEORGE W. MCKENDRY, pursuant to the terms of the By-Pass Trust, below.
(B) After the death of my husband, or after my death if my husband does not survive
me, I give all the residue of my estate, real and personal, together with any amounts which may
be added hereto from any other trust created under this Last Will and Testament, or elsewhere,
(hereinafter the "Residue") to my Trustee. The Trustee shall divide the Residue into equal shares
so that there will be one share for each of my children, DENNIS G. MCKENDRY and
CAROLYN J. MCKENDRY, provided that the respective child is then-living or is survived by
then-living issue.
(1) If a child is then-living, such share shall bf~ distributed outright and free of
~ trust to such child.
(2) If a child is not then-living but is survived. by then-living issue, then such
share shall be further divided into equal shares, per stirpes and ;;uch share shall be held in trust
for such child's then-living issue pursuant to the terms of the Descendant's Trust, below.
(3) If no child of mine nor any issue of any deceased child of mine are then
Ku]zer & DiPadova
A Professional Corporation
76 Euclid Avenue
Haddonfield, NJ OR033
living, the Trustee shall distribute any remaining amount as follows:
(a) Fifty (50%) percent to my heirs as if I had died unmarried and
intestate under the laws of the State of New Jersey;
(b) Fifty (50%) percent to the heirs of my husband as if he had died
unmarried and intestate under the laws of the State of New Jersey,
3
ARTICLE IV
DISCLAIMER TRUST
Any amounts passing to this trust (hereinafter referred to as the "Disclaimer Trust") shall
be held, managed and invested as a separate trust, and shall be distributed as follows:
(A) The Trustee shall pay all of the income from the Disclaimer Trust in convenient
installments, but not less frequently than quarter-annually, t~~ my husband, GEORGE W.
MCKENDRY, during his lifetime.
(B) In addition, the Trustee shall pay, from the principal of this Disclaimer Trust, to
or for the benefit of my husband, such amounts as shall be necessary from time to time for his
medical care, maintenance and support in reasonable comfort, taking into consideration other
resources available to him for such purposes from all sources known to the Trustee.
(1) To the extent that any qualified retirement plan or individual retirement
account (IRA) benefits are payable to this Disclaimer Trust for the benefit of my husband,
GEORGE W. MCKENDRY, I hereby identify my husband, GEORGE W. MCKENDRY, in
accordance with Proposed Treasury Regulation Section 1.401(,a)(9)-l, D-5, as the designated
beneficiary with respect to the Disclaimer Trust's interest in benefits payable to the Trustee
hereof from such qualified retirement plan or IRA.
(2) Upon the death of my husband, any balance remaining in this Disclaimer
Kulzer & DiPadova
.4 Professional Corpora~ion
76 Euclid Avenue
Haddonfield, NJ OR033
Trust shall be kept as a separate trust and shall be distributed pursuant to the terms of Article III,
above.
ARTICLE V
BY-PASS TRUST
(A) Any amounts passing to this trust (hereinafter referred to as the "By-Pass Trust")
shall be held, managed and invested as a separate trust, and shall be distributed as follows:
4
(1) The Trustee shall pay all of the income from this By-Pass Trust in
convenient installments, but not less frequently than quarter-anmially, to husband, GEORGE W.
MCKENDRY, during his lifetime.
(2) In addition, the Trustee shall, from time to time, pay to or for the benefit
of my husband, GEORGE W. MCKENDRY, as much of the principal as is necessary for his
health, maintenance, and support in reasonable comfort. In making such payments, Trustee may
take into account his income from other sources and personal assets. Any such payments may be
made either to him or applied directly for his benefit.
(3) In addition, my husband, GEORGE W. MCKENDRY, shall have the
right in each calendar year to withdraw from the principal of this By-Pass Trust up to five
thousand ($5,000.00) dollars at any time and, in addition, if he is living on December 31 of a
year, to withdraw up to five (5%) percent of the fair market value of such principal determined
on December 31 of that year; the amount subject to withdrawal as of December 31 shall be
'reduced by any prior withdrawals under this subparagraph during that year, and any such rights
of withdrawal for a particular year shall lapse if not exercised during that year.
(B) After the death of my husband, GEORGE W. MCKENDRY, the balance
remaining in this By-Pass trust shall be distributed pursuant to Article III(B), above.
(C) During his lifetime, my husband, GEORGE W. MCKENDRY, shall have the
Kinzer & DiPadova
A Professional Corporation
76 Euclid Avenue
Haddonfield, NJ OR033
power at any time and from time to time to appoint as much, or all, of the principal of this By-
Pass Trust to my issue, or any of them, in whatever proportions rie may designate, provided that
this special power of appointment is not exercisable to the extent it would relieve my husband of
any obligation of support or to any other extent which would cause inclusion of this By-Pass
Trust in my husband's estate for tax purposes.
5
(D) Notwithstanding the above provisions, my husband, GEORGE W.
MCKENDRY, shall have the right in his Last Will and Testament, and by specific reference to
this special power of appointment, to direct the distribution of the balance, if any, of this By-Pass
Trust remaining at the time of his death, in such proportions a.nd either outright or in trust as
herein provided, as he shall direct, but only to my children and tlieir issue, or any of them.
(E) My husband, while acting as fiduciary hereunder ;hall not have any powers which
I would cause inclusion of this By-Pass Trust in his gross estate for tax purposes.
ARTICLE VI
DESCENDANT'S TRUST
Any trust established pursuant to Article III that is managed according to the terms of
this Article (hereinafter referred to as the "Descendant's Trust") ;>hall be held, managed, invested
~ and distributed as follows:
(A) So long as any of the beneficiaries of this Trust arf; under age Twenty-Two (22):
(1) As much of the net income and principal a;~ Trustee may from time to time
think desirable shall be paid to or for the benefit of such one or more of my beneficiaries in such
amounts or proportions as Trustee may from time to time think appropriate.
(2) Any net income not so distributed shall bey accumulated and from time to
time and added to principal.
(B) Once the youngest beneficiary of a trust established pursuant to Article III that is
Kulzer & DiPadova
.4 Professional Corporation
76 Euclid Avenue
Haddonfield, NJ OR033
managed according to the terms of this Article attains the age of Twenty-Two (22) or upon the
funding of such trust if all of the beneficiaries have already attained Twenty-Two (22):
(1) The net income from each share shall be paid in convenient installments,
but at least quarter-annually, to or for the benefit of such beneficiairy.
6
(2) In addition to the payment of income, the Trustee shall pay to or apply for
the benefit of such beneficiary such sums from the principal o f such beneficiary's share as the
Trustee considers necessary or desirable from time to time for the medical care, support,
maintenance, and education (including, but not limited to, college and postgraduate education) of
such beneficiary, taking into consideration all other income available to such beneficiary for such
purposes from all sources known to the Trustee. It is my inl:ention that this Trust shall not
constitute a disincentive for a beneficiary to be a productive citizen. However, for purposes of
distribution under this paragraph, the word "maintenance" shall lie deemed to include reasonable
needs in the Trustee's discretion for investment in a business, initiation of a professional
practice, the purchase of a home, or other similar financial needs in the Trustee's discretion.
(C) When a beneficiary reaches the age of Twenty-Eight (28) years, or upon the
Kulzer & DiPadova
.4 Professional Corporation
76 Euclid Avenue
Haddonfield. NJ OR033
setting up of this share if such beneficiary has then reached such age, such beneficiary shall have
the right to withdraw up to thirty-three (33%) percent in value of the principal of such
beneficiary's share then held thereunder; when a beneficiary of mine reaches the age of Thirty-
Three (33) years, or upon the setting up of this share if such beneficiary has then reached such
age, such beneficiary shall have the right to withdraw up to fifty (50%) percent in value of the
principal of such beneficiary's share then held thereunder; and when a beneficiary of mine
reaches the age of Thirty-Eight (38) years, or upon the setting up of this share if such beneficiary
has then reached such age, such beneficiary shall have the right to withdraw the entire balance of
such beneficiary's share. The amount subject to withdrawal before a beneficiary reaches the age
for withdrawal of the entire balance shall be based on the market value of the principal of that
~~ beneficiary's share at the time of such beneficiary's first request: after reaching each particular
age.
7
(D) In the event of the death of a beneficiary of mine prior to complete distribution of
such beneficiary's share, or at the time such share is created if such beneficiary is not then living,
then such share shall be distributed pursuant to Article III(B), above.
ARTICLE VII
DEFINITION OF MARITAL GIFT
The Marital Gift is that amount, if any, equal to the minimum amount necessary to reduce
the federal estate tax to zero, or as close thereto as possible, b}~ utilizing the marital deduction
available under the federal estate tax law in effect at the time of my death, but only after taking
into account all credits for federal estate tax purposes available to my estate and all other assets
which pass to my husband under this Will or otherwise and which qualify for the marital
deduction. Notwithstanding the foregoing provision, any credit for state death taxes shall be
taken into account only to the extent that state death taxes are not increased thereby.
It is intended that this Marital Gift shall be treated as a pecuniary bequest. All assets
Kulzer & DiPadova
.4 Professional Corporation
76 Euclid Avenue
Haddonfield, NJ OR033
distributed under this Marital Gift shall be assets which qualify for the marital deduction under
Federal estate tax law and shall be valued as of the date or dates of distribution of such assets. It
is my intention that this Marital Gift shall qualify for the federal estate tax marital deduction and
I direct that all provisions of this Will shall be construed and applied in a manner that will not
impair the qualification of this Marital Gift for marital deductil~n purposes under the Internal
Revenue Code of 1986, as amended (hereinafter referred to as the "Code"), and I further direct
that insofar as any provisions of this Will may adversely affect the qualification of said Marital
Gift for marital deduction purposes, such provisions shall be disregarded.
8
ARTICLE VIII
SIMULTANEOUS DEATH
For purposes of this Will, my husband shall be deemed to survive me if the order of our
deaths is not clear.
ARTICLE IX
PROTECTIVE PROVISIONS
The interests of the beneficiaries hereunder shall be free from anticipation, voluntary or
involuntary alienation, assignment, pledge or obligation, and shall not be subject to attachment,
execution or to other legal process.
ARTICLE X
MINORITY AND DISABILITY
Except as otherwise provided herein, if any income or principal becomes payable to any
Kulzer & DiPadova
A Professional Corporation
76 Euclid Avenue
Haddonfield, NI OR033
beneficiary who is a minor, or to a beneficiary who in the sole judgment of the Fiduciary
responsible for making such distribution is legally incapacitated, then such amount shall vest in
such beneficiary, but shall be held in a separate trust account for such beneficiary by the Trustee
during such period of minority or incapacity; and the Trustee shall apply as much of the income
and principal as the Trustee deems necessary for the health, maintenance, education, and support
in reasonable comfort of said beneficiary. Such amounts may be applied directly, or maybe paid
to said beneficiary's guardian, to said beneficiary's custodian under a Uniform Transfer to
Minor's Act, or similar applicable law of any state, or to any person or organization for the
benefit of such minor or incapacitated beneficiary. Any income and principal not so expended or
distributed by the Trustee shall be retained by the Trustee and paid to the beneficiary upon such
beneficiary's attainment of the age of majority or upon termination of the incapacity, as the case
may be, or earlier if the Trustee deems it advisable. In the event the beneficiary dies while still a
9
minor or while still incapacitated, any principal and income remaining shall be paid over to such
beneficiary's estate. For purposes of this Will, a person shall be deemed to be a "minor" so long
as such person is under the age of twenty-one (21) years, any statute now or hereafter in force to
the contrary notwithstanding.
ARTICLE XI
FIDUCIARY'S POWERS
My Fiduciaries shall have the following powers in addition to those vested in them by
Kulzer & DiPadova
A Professional Corporation
76 Euclid Avenue
Haddonfield, NJ OR033
law and by any provision of this Will, all of which shall be exercised in a fiduciary capacity for
the best interests of the beneficiaries hereunder, and none of which may be applied in any
manner which would cause disqualification of any marital deduction for tax purposes:
(A) To retain any investment in their discretion, and to make such investment and
reinvestment and in such proportions, without regard to statutes limiting the property which the
Fiduciary may purchase, as the appropriate fiduciary shall consider beneficial to my estate or to
any trust established hereunder, as the case maybe; provided, however, in the event any property
qualifying for the marital deduction for tax purposes shall be or become unproductive or under
productive of income, the Fiduciary shall, at the written direction of my spouse, dispose of such
property and invest the proceeds in property which shall be productive of a reasonable income.
(B) To (1) participate in any merger or reorganization affecting securities held
hereunder at any time; (2) deposit stocks under voting agreements; (3) exercise any option to
subscribe for stocks, bonds or debentures; and (4) grant proxies, discretionary or otherwise, to
vote shares of stock.
(C) To manage, operate, repair, alter or improve real estate or other property, and to
lease real estate and other property upon such terms and for such period as the appropriate
fiduciary may deem advisable.
(D) To sell, and to grant options for the sale of, any real or personal property at public
or private sale for such prices and upon such terms, including they granting of a purchase money
mortgage or purchase money security interest for all or any portion of the purchase price, with or
without subordination, as the appropriate fiduciary may think proper, without liability on the
purchasers to see to the application of the purchase money.
(E) To borrow money from any source without liability on the part of the lenders to
see to the application thereof.
~o
(F) To register securities and other property held by the appropriate fiduciary in the
name of a nominee or in bearer form.
(G) To compromise claims by or against my estate or any trust established hereunder,
without order of Court or consent of any beneficiary.
(H) To make any distributions in cash or in kind.
Kulzer & DiPadova
.A Professional Corporation
76 Euclid Avenue
Haddonfield, N1 OR033
(I) The Fiduciary is authorized to employ attorneys, accountants, investment
advisors, specialists and such other agents as the Fiduciary shall deem necessary or desirable.
The Fiduciary shall have the authority to appoint an investment manager or managers to manage
all or any part of the assets of the trust, and to delegate to said manager investment discretion.
Such appointment shall include power to acquire and dispose of such assets and to perform any
act of administration, whether or not discretionary. The Fiduciary may charge the compensation
of such attorneys, accountants, investment advisors, investment managers, specialists and other
agents and any other expenses against the trust.
(J) To execute and deliver all instruments of writing necessary or appropriate for the
exercise of the appropriate fiduciary's powers.
(K) I authorize my Personal Representative to exercise such options as may be
available in determining and paying death taxes with respect to my estate as my Personal
Representative shall deem appropriate.
(L) To join with my spouse or my spouse's estate in the filing of any Federal income
tax return for any year for which I have not filed such return prior to my death, and to consent to
any gifts made by my spouse as being made one-half by me for tax purposes; any income or gift
tax due on such return and any deficiencies, penalties or refunds thereon shall be allocated
between my estate and my spouse and my spouse's estate or to any of them in such manner as
my Personal Representative may determine; and my Personal Representative may take such
action even though it may result in additional liabilities for my estate.
(M) After my spouse is not living, for convenience of administration and investment,
(1) the Fiduciary is authorized to hold the several shares which maybe established hereunder for
any of my issue as a common fund, dividing the income proportionately among them, and, to
assign undivided interests to the shares, and to make joint investments of the funds belonging to
them; and (2) the Fiduciary may consolidate any such separate share with any other trust or trusts
created by me or any member of my family by Will or otherwise.
(N) If, after my spouse is not living, in the Fiduciary's discretion, it is impractical or
uneconomical to administer any fund held hereunder as a trust, then the Fiduciary may, without
further responsibility, pay the fund to the person, or to the legal representatives of said person,
who is then entitled to receive income therefrom.
(O) If an election to do so is provided by law, my Personal Representative may claim
any expenses of administration of my estate as income tax or estate tax deductions, or partly for
each, to the extent that in the discretion of said Personal Representative such action will achieve
an overall reduction in the income taxes and inheritance, estate and other death taxes for the
benefit of my estate and of the beneficiaries thereof. I further direct that no compensating
adjustments, as between income and principal accounts or in the; amount to be distributed to any
beneficiary, shall be required or made as a result of such actions.
Kulzer & DiPadova
A Professional Corporation
76 Euclid Avenue
Haddonfield, NJ OR033
(P) To deal with the stock of any close corporation, any partnership, or any other
business interests, hereunder, and in so dealing (1) to disregard any principle of investment
diversification and to retain any part or all of such interest as long as necessary or appropriate;
(2) to sell any part or all of such interest at such time or times, for such prices, to such persons
(including persons who are fiduciaries or beneficiaries hereunder) and on such terms and
conditions as may be desirable; (3) to do anything that may seem advisable with respect to the
operation or liquidation of any such business or any change in the purpose, nature or structure of
any such business; (4) to delegate authority to any director, stockholder, manager, agent, partner
or employee, and to approve payment from the business of adequate compensation to any such
person; (5) to borrow money from the banking department of aniy corporate fiduciary regardless
of any rule of law with respect to conflict of interest; (6) to make additional investments in any
such business if such action seems desirable for the best interests of the beneficiaries hereof; and,
(7) in short, I intend that in making decisions hereunder, the Fiduciary shall have the same
freedom of action that I now have.
(Q) To allocate any portion of my exemption under Section 2631(a) of the Code to
any property as to which I am the transferor, including property transferred by me during life to
which I did not make an allocation before my death. In exercising this power, my Personal
Representative shall not be required to treat different family branches in the same manner.
(R) To divide property in any trust with an inclusion ratio (as defined in Section
2642(a)(1) of the Code) of neither one nor zero into two sc;parate trusts representing two
fractional shares, one with an inclusion ratio of one and the other with an inclusion ratio of zero.
(S) In my fiduciaries discretion, to periodically inspect, review and monitor, or
require the inspection, review and monitoring of any and all pro~~erty held in my estate or in any
trust created under my Will for the purpose of determining compliance with any law, rule or
regulation affecting such property, and for all expenses of such inspection, review and
monitoring to be paid from the income or principal of the trust or estate.
(T) To take any and all action the Fiduciary shall reasonably deem necessary, in the
Fiduciary's sole discretion, to prevent, abate, "clean up," or otherwise respond to any actual or
threatened violation of any federal, state or local law, rule or ordinance affecting any property
held in my estate or in any trust created under my Will related to the generation, use, treatment,
storage, disposal, release, discharge, or contamination by any materials or substances that are
prohibited or regulated by federal, state or local law or that are known to pose a hazard to the
environment or human health. Such actions may be taken prior to the initiation of enforcement
action by a federal, state or local agency. My Fiduciary shall obtain an estimate of the cost of
such response to such violation or contamination and shall notif~~ the beneficiaries of my estate
or trust of the estimated costs of such response. Such beneficiaries shall have the right to pay for
such response costs or to authorize payment of such costs by thE; Fiduciary from estate or trust
assets. If the beneficiaries of my estate or trust for any reason fail to pay for or authorize
payment of such costs from trust or estate assets, the Fiduciary shall nonetheless be entitled to
12
use trust or estate assets to pay such costs or, in the Fiduciary's sole discretion, to resign in
accordance with the provisions herein regarding the resignation of a fiduciary.
(U) To disclaim any power which, in the sole discretion of the Fiduciary, will or may
cause the Fiduciary to be considered an "owner" or "operator" of property held in this Will,
under the provisions of the Comprehensive Environmental Response, Compensation and
Liability Act (CERCLA), as amended from time to time, or `Nhich shall otherwise cause the
Fiduciary to incur liability under CERCLA or any other federal, state or local law, rule or
regulation. The power to disclaim as contained in this section shall apply to any power, whether
actually set forth in this Will instrument, incorporated by reference herein, or granted or implied
by any statute or rule of law.
ARTICLE XII
DEATH TAXES
(A) Except as provided in subparagraphs (2) and (3;~ below, all death taxes payable
with respect to property passing under this Will shall be paid out of my residuary estate, without
apportionment.
(1) Pursuant to the provision of the Marital Trust hereof, my Personal
Representative has been given the discretion to make or not to make the election provided for in
Section 2056(b)(7) of the Internal Revenue Code of 1986, as amended, with respect to all or part
of the Marital Trust. If the portion of the Marital Trust with respect to which such election was
not made shall be subject to any death taxes, then any such taxes attributable to such portion
shall be paid therefrom.
(2) If the Disclaimer Trust is established pursuant to Article III, and if any
Kulzer & DiPadova
.4 Professional Corporation
76 Euclid Avenue
Haddonfield, NJ OR033
portion of such Disclaimer Trust shall be subject to any death taxes, then any such taxes
attributable to such portion shall be paid therefrom.
(3) Pursuant to Article II hereof, certain property has been bequeathed to my
husband, GEORGE W. MCKENDRY. If any such property shall be subject to death taxes,
then any such taxes attributable to such property shall be paid therefrom.
13
(B) All death taxes payable with respect to property passing other than under this Will
and (i) included in my gross estate for Federal estate tax purposes by reason of Section 2035,
2036, 2037, 2038, 2039, 2040, 2041, 2042, 2043 and/or any other section of the Code, or (ii)
subject to death taxes by reason of any applicable state, city or municipal law, shall be paid out
of such property.
(C) The death taxes attributable to the property refen•ed in subparagraphs (2) and (3}
of Paragraph (A) above shall be a pro rata portion of the total of such taxes payable by my estate
with respect to property passing under this Will.
(D) The death taxes attributable to the property referred to in paragraph (B) hereof
shall be the amount by which the total of such taxes payable exceeds the total of such taxes
which would have been payable had such property not been subject to death taxes, the same to be
allocated among the various interests in such property pro rata.
(E) When used in this Will, the term "death taxes" shall be deemed to include all
taxes payable by reason of property passing upon my death., whether labeled estate taxes,
inheritance taxes, death taxes, succession taxes, transfer taxes, or otherwise, and whether
imposed by the federal government, any state, city or municipality, or otherwise, including
interest and penalties thereon.
(F) Nothing contained herein shall be deemed to be a direction that my estate not
Kulzer & DiPadova
A Professional Corporation
76 Euclid Avenue
Haddonfield, NJ OR033
recover from the recipient of property included in my gross estate by reason of Section 2044 of
the Code, the amount specified in Section 2207A of the Code.
ARTICLE XIII
APPOINTMENT OF PERSONAL REPRESENTATIVE
I appoint my husband, GEORGE W. MCKENDRY as sole Personal Representative of
this my Last Will and Testament. In the event that GEORGE W. MCKENDRY shall fail to
14
serve for any reason, then I appoint CAROLYN J. MCKENDRY as sole Personal
Representative of this my Last Will and Testament. In the event that CAROLYN J.
MCKENDRY shall fail to serve for any reason, then I appoint DENNIS G. MCKENDRY as
~ successor Personal Representative.
ARTICLE XIV
APPOINTMENT OF TRUSTEE
I appoint my husband, GEORGE W. MCKENDRY as sole Trustee of this my Last Will
and Testament. In the event that GEORGE W. MCKENDRY ;hall fail to serve for any reason,
then I appoint CAROLYN J. MCKENDRY as sole Trustee of this my Last Will and Testament.
In the event that CAROLYN J. MCKENDRY shall fail to ser<~e for any reason, then I appoint
DENNIS G. MCKENDRY as successor Trustee.
ARTICLE XV
WAIVER OF BOND
I direct that any fiduciary acting hereunder shall not be required to enter bond or other
security in any court or jurisdiction in which said fiduciary maybe called upon to act.
ARTICLE XVI
DEFINITIONS
The term "Trustee," "Personal Representative," "Fiduciary," and any word used to
Kinzer & DiPadova
A Professional Corporation
76 Euclid Avenue
Haddonfield, NJ OR033
indicate the Trustee, Personal Representative, or any other person or organization, shall be
deemed to apply to the singular or plural and to the appropriate gender as the case maybe.
~5
IN WITNESS WHEREOF, I have hereunto set my hand and seal to this, my Last Will
rC,
and Testament, on this ~ ~ day of ~~ ~ ~-~?-~;.~ z. , 1999.
~.
~-_ ~` i-ei rat. L /~'% I C_-~_.l i`; ,_-~- `_
ELEANOR D. MC'KENDRY
Kinzer & DiPadova
A Professional Corporation
76 Euclid Avenue
Haddonfield, NJ OR033
SIGNED, SEALED, PUBLISHED AND DECLARED 1>y the above named Testatrix as
and for her Last Will and Testament, in the presence of us, 'who, at her request, and in her
presence and in the presence of each other, have hereunder subscribed our names as witnesses.
Gt i~1~~'St~ ~ ~~'al
Address
~~ '
Na e Add ss
16
I, ELEANOR D. MCKENDRY, the Testatrix, sign my name to this instrument this
-~; t, .cZ_ day of (~ ~ ~~.. -C-~_-~,~~_ L.. 19'~', and being duly sworn, do
hereby declare to the undersigned authority that I sign and execute this instrument as my Last
Will and that I sign it willingly (or willingly direct another to sign for me), that I execute it as my
free and voluntary act for the purposes therein expressed, and that I am eighteen years of age or
older, of sound mind, and under no constraint or undue influence.
C
~..__i. ~
_.~ - ,
ELEANOR D. MCKENDRY
We,~ ~{? 2~~( and ~Q~~~UIQ 11 ~ Y1N1,1~Q O the witnesses,
sign our names to this instrument, and, being duly sworn, do hereby dec~I"are to the undersigned
authority that she signs and executes this instrument as her last Will and that she signs it
willingly (or willingly directs another to sign for her), and that each of us, in the presence and
hearing of the Testatrix hereby signs this Will as witness to the Testatrix's signing, and that to
the best of our knowledge the Testatrix is eighteen years of ag;e or older, of sound mind, and
under no constraint or undue influence.
W ESS
/"
~~~~~
WIT ES
STATE OF NEW JERSEY
COUNTY OF CAMDEN
Kulzer & DiPadova
A Professional Corporation
76 Euclid Avenue
Haddonfield, NJ OR033
Subscribed, sworn to and acknowledged before me by Eleanor D. McKendry, the
Testatrix, and subscribed and sworn to before me by the above-mimed witnesses this a g~
day of ~~ , 1999.
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~7